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<br /> l_ender may,at sny tima,cot"�ct and hotd emounts tor Escrow items In an a98�egate emount nat to exesed tAO rtwxlmum . . y::
<br /> amount that rn�y be required for Borrowe�s ascrow flccount unde�the F�ea1 Fstfsta Satt�msnt Procedures Aet of 1974, 12 U.S.C. , , <�
<br /> �2&Ot g2 sea•8nd imptementing re8�+iatbns. 24 CFR PaR 3500.es they maY bs amended from ttr�to time('RESPA').exceDt . . , , �,,,{
<br /> 4hat the cushion or reserve pem�Rted by RESPA tor unanttclpstsd disburtements or dtsb:useme+�ts before the 8ortower8 . ,
<br /> payments ere avaitabla�the axount may not Ge based an amaunts due tor the mortgage e�surance p�emium . .
<br /> If the amounts he!d by �der for Escrow items e�rcced the amounts permhted to be hetd by FiESP0. Lende�shall eccount :�`
<br /> to Bonower for tAe excess tunds as required by RESPA. It the amounts of tunds hetd by Lendsr at any time ere not SufBctent to - ,
<br /> pay the Escrow Rems when dus.Lsnder may notdy the 8ortower and requre Bortower t0�e up the shortass es permitted by �,_ . , • -�
<br /> ` aESaa , ,
<br /> _ ; The Escrow Funds are pledgetl as additlonel security for aU sums secured by thEs SecuritY instrument If Borrower tenders �
<br /> � . `f to Lendsr tha fuU paymant ot aU such sums, Borrowers account sAa➢be cred'4ed wiih the batertce remai��n9������t - - � : .
<br /> items (a), (b), and (c) end any mortgage inswance p►emlum iistelment that Lendor has not hecome o011gtued to pay to the �
<br /> Secretar�r,and Lender shati Drom9tly refund any excess tunOs to Bortower. ImmediateN Prfor to a(orscbsure salB ot the PropertY s ' , -
<br /> or�ts acquisitton by Lender.Borrowers axount shai!be credited w�A eny balance�emainin9 for eu mstai',me�ts for Rsms(a),(tr), � ..
<br /> ' • s
<br /> end(c)• '._ .,. . . .• '
<br /> . ' 3. A(1pI1C8tIOt1 OY PBjt(118i1iS.AU paYmenls under Paragr8phs 1 and 2 shBU be appitsd by Lendst 8S follows: € .,`�
<br /> FI�St,to the mortgsye insurance premium to be paW by Lsnder to the Secretary or to the monthry charqe by the 3ecretary '- , _ , ;��,;
<br /> • �stead of the monthty mortgage nsurance premum; i • ' , '
<br /> SL°COQd. to any t�ces. spectal assessments. leasehotd Payments or ground rents. and fee. Rood end olher hazard � . . � --.-
<br /> . insurance Premiums�as required; °�a�
<br /> . � Third,to interest due under the Note; � , ��
<br /> • FOU�$lf,to emoRiraUon of the pnc�ipal of the Not�and f � ; «.� :�
<br /> �"� Ftfthr to Iate charges due under the Nota � _ , �,
<br /> � 4. Flre, Flood and Other Hezard tnsurence. eorrower snau tnsure an Mamvemen� on e�a�°pe�h',wnecner f : �.=�� _•
<br /> [. . �.
<br /> � now in extstsnce or subseqt:entty erected. e9a�st 8ny haratds,casualties,and continyencies, hciuding fre, far whtch Lender :-;���'
<br /> requires e�surance. This e�sarance shell be mahtained fn the amounM end for the periods that Lender requtras. Bartower sdall , 3,.;��,;:a-�
<br /> ��� aLso hsur8 8il cnpmvemenfs on the Property,whother now in extstence or subsequenUy e+ected. a0ahst bss by flaods to ffie �
<br /> extent�equtred by ttie Secretery. A11 Yssurance shafl be carrisd wfth Companies 8pproved by i.ender.Ths tnsuranCe poliCfes snd S ,...,
<br /> � any renewais Shall be hetd by Lende►and shell hcWde bss payabl�cfeuses h favor of,and fn a fortn accoptable to.Le�der• ' __ .
<br /> In the event ot bss. Bortower shatl give Lender immed3ate notice by mail Lender rr+ay rtwke Proof of loss it nat made ,� ��.,
<br /> prompUy by Bortower. Each insuranee company concemed is hereby authorized and diected to make payment far such foss � , �:` +:
<br /> diractry ro Lender. instead of to 8nrrower and to Lender lcindY. M or any part of the insurance procseds may be appl3�d by , f
<br /> LenQer, at its optbn,eRhsr(a) to tAe reductton o!t he h d e b t e d ness u n d e r t h e N o t e a n d t h(s S e c u n l y i n s tr u m e n t,N r s t t o a n y ,,� ,-
<br /> � delinqueM amounts epplied in the order in ParaQraph 3.and then to prepayment ot principab or(D)to the restoratbn or repaY ot �;� �'i.'._. f
<br /> ' ths damagsd PropeAy. My epDlicatbn of the proceeds to the prheipat sAap not extend or postpone the due date of the , .�:n " �
<br /> . 'y 1�1��
<br /> . monthy peymsets which era reterred to in P�uagraph 2, ar chanye the amount of such payments. Any e�acess insurance '..i,� ,:�.•,:'
<br /> �J ,V,;..,:�: A •�. w
<br /> �. proceeds over an amount requ�red to pay a0 outstanding indeDtedness under the Note end tnis Securdy tnstrument shal!be paid ,
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<br /> � to tfie entity feg3LY entitied Mereto. , .. � ,_ _
<br /> � •; In the event of for�losure of this SeCUrity Insbrument or other bra�sfc�ir oT tiqa to the Pro¢&�ty th8t exttnpuishes the .
<br /> �� �,.
<br /> . � tndebtedness,at►right,titlB and interest of Borrower h and to �surance pollcles In ton:e shail pass to the purchaser. ^, , . _,,�_
<br /> . 5. Occupancy, Preserv�tton, Meintenance and Protection ot the Property; �orrower'a Loen .�- ;�_
<br /> Applicauon; LEAEBhOldB. 8ortower sha�occupy,establish,end use tho PropeRy as Bortowers pthCipat residatCe wttAln � ,%�=y.:.'
<br /> ,% sbdy days after lhe execution of this 3ecurity Instrument(or wfthin sbRy days of a later sate or Vansfer of tfie PropsRy)and eAtA � �
<br /> contiwe to accupy Ne Property ss Borrowers prfncipai residence tor at Iensi ane year aRe►the date of aecupancy. unioss .. „���
<br /> •� . tender dete�minas that roqutanent w61 cause undue Aardshfp for Borrowar.or untess e�RanuaUnp circumsuncas�cist whieh�n -:-t`".
<br /> � beyond Borrowefa conlroL Bartower sha8 notYy Lender of any�uatinp ctrcumstor�ces. Borrowar shaU not commk waste or •„�,«;,,���' F., -
<br /> desuoy.damape or substentfaity chanpe the Property or eltow the Property to deteHOrate. reasonabl�wear and !au a�aptad. . •.� ��-��,.:
<br /> ' ; Lender may inspect the Praperty a the Propeity is vacant or abandoned or the bon is h defauh. Lender rtu►Y take reasonebk ���r_
<br /> ..tr�i:�• —
<br /> ��'. aetion to protect and presenre such vacant or abandoned Properly Borrower sha8 atso be h defnutt B Bortower,durinp the Ioen � __•_� �
<br /> applicaUon process,pave materialy false or inoccurate InlormaUon or statements to Lendar(or(a0od to provide Lender with eny � . ��
<br /> . � + materfal htortn8tion)in connection wRh ths ban evidenCed by the Note, hCbdhp,but n�2 lim�ed to,representntbns concemhp :� : . ,
<br /> • . ; Bartowefs occupancy of the Property as e pnc�fpal reslCenco• If this Security Instruma+t Is on e laasehotd, Bortower shall
<br /> compty wfth tha provfsbns ot the Iease. If Bor►owar acqulres tes tWe to the Property. the leasehotd and tee tittte sha0 not be
<br /> •. � merped untess Lender agrees to the merger h writinp. � .�
<br /> f 6. CondemnaUor+.The proceeds of enY award ot elaYn for d8mefles. dtrect or consequendal. �conneccwn Wnh any _
<br /> s condomnaUon or other telchp of any peR ot the Propeny,ot for conveyance En pt�ce of condernnation,are hereby assipned end • '
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<br /> ��� sha0 be D� to L.ender to tho e�Qent of tha fu0 amount ot the hdebtedness that remalns unpald under the No29 and this ,
<br /> SacuAty Instrument Lender ehaU apDh such proceeds to the reductbn of tha Ndebtadness under the Note and thb SecurRy � � ,
<br /> Irastrument. flrst to enY deunQuent emounts apptied b thc order provided in Parasreph 3. and then to prepayment af princlptL .
<br /> My applicatton af the pracv;ds to tho principal shall not extend or postpone the due deto of the monthy payments.wA�h ere
<br /> retereed to in Paragraph 2, or char�pe the amount o}such payments.My excess proa�sds over an emount required to pay all .
<br /> outstand'ng ndebtedness unQer the Noto and thia Security Instrument ShaU be ptttd to the entny tega�N entRled thereto.
<br /> � �. Charges to Borrower and Protection ot Lender'a RighU in the Property. sonower sna�i pay an . �
<br /> � govemmental or mun�ipal charges, fines and imposftbns that are not hciuQed in Peragreph 2. Bortovrer shail pay these �
<br /> obligstWns on ttne directy to the entity whiCh is owed the pBY��- �}���re to pay would 8dvets9ly &BeCt Lendet'8 interest in
<br />' � the Proparty,upon Lsnder'8 request Bortower shall prompUy tumish to Lender recoipts evldencinp these payments. _.
<br /> 11 Bonowar fei13 to make thaso payments or the payments requlr¢d by Paragmph 2,or(alts to pertorm any othcr cavsnants ` � _'
<br /> • and agreements eonffihed in thb Security Instrument,or there�S a 19ya1 proc9edinp that may signiflcentty aHact Londera rlShts in j . . °
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<br /> the Property(sueh as a proC9edinp In bankruptCy.for condemnotion or to cnforce faws or regulationa),thcn Landor may do and 4 . __
<br /> pey whataver Is necessary to protoct t0�e vetue of the PropeRy and Lenders riphts in the Propsr9y,IncNtling paymsnt o} taxss. _
<br /> ; harard insurance end other itoms menttoned h Peragraph 2. � •
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